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Property Damage Liability
What is property damage liability?
Property damage liability coverage pays for the damages to the car and possessions of the other party in an accident that is your fault. This includes not only the labor and parts costs associated with car repair, but also replacement for valuables inside the car that were destroyed or even for repairs to stationary objects you may hit (a neighbor's mailbox, for example, or a tree).
Who needs property damage liability?
Everyone. Anyone who owns a car should take responsibility
for the cost of property that they incur. Unless
you have a fair amount of money tucked away in
a bank account for just such an emergency, it
is well worth it to invest in property liability
insurance. We all make mistakes. It's part of
what makes us human, and property damage liability
is what helps us pay for those mistakes.
Many states require you to purchase at least
a minimal amount of property damage liability
coverage - in some cases, as low as $5000.
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How much property damage liability coverage do you need?
It makes sense to purchase as much property damage liability coverage as you can afford. Some states impose a minimum requirement coverage amount of $5000, but if you should hit a Mercedes or an RV, chances are that you will still have to go into your pocket in order to pay the full cost of the repairs.
It is recommended that you buy at least $50,000
for every car that you own. For total peace of
mind, $100,000 worth of property liability damage
is a good amount to purchase in order to be sure
that, in the event of an accident, you won't have
to deal with the stress of coming up with the
money to pay for somebody else's car costs on
top of your regular bills.
Does property damage liability cover the costs of damages to my car if another party is responsible and has no car insurance?
No. Property damage liability covers nothing but the damages to the other person's car and property if you get into an accident and, of course, only if the accident is your fault. If the other person doesn't have car insurance and causes an accident with you, then they will have to pay for the damages to their car out of their own pocket.
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